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Will update more when have got to grips with the new online BR petitioning, and the IS have stopped moving their guides around as much.

I'm a Board Guide on the Debt-Free Wannabe, Bankruptcy, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

Can I go bankrupt?
Basically I have been really struggling with debt since being left with it all from my first divorce
Stupidly got married again and bought a guest house in joint names, she won the guest house in the divorce and I got all the associated debts apart from the mortgage.
I think bankruptcy is the best option for me as I am unemployed and 6 months behind on most payments.
My ex has been ordered to pay about 5 grand when I sign over the ownership of the hotel but I would have to stay on the mortgage till october so would still be eligible if she missed payments, which is obviously very risky for me
Could I file for bankruptcy now or could I hold off my debt collectors for another 8 months and go bankrupt once I have the money and the property is signed over to her?
I'm just thinking the complications come in when I need to go bankrupt but I'm still on a mortgage even though it has been awarded to someone else

It sounds very unfair, I must say! Perhaps reading the advices from the government can give you some answers, try visiting moneyadviceservice.org.uk and their article with the name Best ways to pay off your debts !!!8211; England and Wales.

I am not allowed to post links in here, put if you use Google, I am sure you can find the article.

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